Handelsbanken Fonder AB Sells 49,800 Shares of Everus Construction Group, Inc. $ECG

Handelsbanken Fonder AB decreased its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 375,000 shares of the company’s stock after selling 49,800 shares during the period. Handelsbanken Fonder AB’s holdings in Everus Construction Group were worth $32,085,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ECG. Royal Bank of Canada increased its stake in shares of Everus Construction Group by 155.0% in the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock worth $1,811,000 after purchasing an additional 29,689 shares in the last quarter. Millennium Management LLC increased its stake in shares of Everus Construction Group by 42.7% in the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after purchasing an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after purchasing an additional 76,252 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Everus Construction Group by 33.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock worth $5,207,000 after purchasing an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Everus Construction Group by 184.4% in the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after purchasing an additional 46,247 shares in the last quarter.

Everus Construction Group Stock Performance

Everus Construction Group stock opened at $146.24 on Wednesday. The firm’s fifty day moving average price is $132.10 and its 200-day moving average price is $107.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.71 and a current ratio of 1.77. The stock has a market cap of $7.46 billion, a P/E ratio of 33.54 and a beta of 2.55. Everus Construction Group, Inc. has a fifty-two week low of $55.31 and a fifty-two week high of $171.58.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.33. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, equities research analysts expect that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ECG. Wall Street Zen downgraded shares of Everus Construction Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. DA Davidson reiterated a “neutral” rating and issued a $102.00 target price on shares of Everus Construction Group in a research note on Wednesday, February 25th. Zacks Research downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Glj Research began coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price for the company. Finally, Oppenheimer lifted their target price on shares of Everus Construction Group from $120.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $154.83.

Everus Construction Group Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.